Electronic Resource
[S.l.]
:
Emerald
Journal of economic studies
21 (1994), S. 3-21
ISSN:
0144-3585
Source:
Emerald Fulltext Archive Database 1994-2005
Topics:
Economics
Notes:
Present some empirical evidence on long-run Purchasing Power Parity(PPP) using a sample of annual data covering the period 1900-1987.Three exchange rates are used in the analysis: the dollar, yen andFrench franc against the pound. It is shown that PPP does hold in thelong run and that is some evidence for the proportionality and symmetryrestrictions. Evidence for exclusiveness is mixed and the results areinfluenced by model specification. Estimates of error-correction modelsshow that there are substantial short-run deviation from PPP that taketwo to three years to correct.
Type of Medium:
Electronic Resource
URL:
http://dx.doi.org/10.1108/01443589410065631
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